Tencent-Backed Futu to Start Trading in Hong Kong in Hedge Against U.S. Delisting

(Bloomberg) — Tencent Holdings Ltd.-backed Futu Holdings Ltd. will start trading in Hong Kong next week to reach a wider investor base and mitigate risks of delisting in the U.S.

Futu’s Class A shares are expected to trade from Dec. 30, according to a statement Thursday. The financial technology firm, which runs a platform similar to Robinhood Markets Inc., has been listed on the Nasdaq for more than three years.